I am nearing an exchange on a property in Winslow and my parents have transferred the ten percent deposit to my conveyancing practitioner. I am now advised that as the deposit has been sent from someone other than me my conveyancer needs to disclose this to my mortgage company. I am advised that, in also acting for the mortgage company he must advise them that the balance of the purchase price is not just from me. I informed the mortgage company concerning my parents' contribution when I applied for the mortgage, so is it really necessary for him to raise this?
The conveyancer is obliged to check with lender to ensure that they know that the balance of the purchase price is not from your own funds. Your solicitor can only disclose this to your bank if you permit them to, failing which, your lawyer must cease to continue acting.
Are the BSA intent on creating a online directory to to identify firms on the Loughborough BS conveyancing panel for example in Winslow?
We are not aware of any plans on the part of the BSA to develop such a tool.
We are purchasing a victorian detached house in Winslow. The intention is to convert the garage to a playroom at the house.Will the conveyancing process include checks to ascertain if these works are permitted?
Your property lawyer will check the registered title as conveyancing in Winslow will occasionally identify restrictions in the title deeds which prevent categories of works or need the permission of another owner. Certain additions require local authority planning permissions and approval in compliance with building regulations. Many locations are designated conservation areas and special planning restrictions apply which often prevent or affect extensions. You should check these things with a surveyor ahead of any purchase.
When it comes to mortgage companies such as UBS, do Winslow solicitors face a fee to be on the list of approved solicitors?
We are not aware of any mortgage company fees to be on their list of approved firms, although some do levy an administration fee to deal with the processing of the conveyancing panel application.
After much negotiation I have agreed a price on a house in Winslow. My mortgage broker pressured me to appoint their property lawyer. I paid an advanced payment of £200. A few days later, the lawyer contacted me sheepishly admitting that they were not on the Nationwide conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Nationwide panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
I understand that there are debates on Chancel Insurance on online forums. Do I need this when buying a house in Winslow? or Apparently there is an ancient law that means some owners of property residing in a parish church boundary may be liable to pay for repairs to the chancel within the church. Is this suitable for conveyancing in Winslow?
Unless a previous acquisition of the house completed after 12 October 2013 you could assume that conveyancing practitioners delivering conveyancing in Winslow to remain recommending a chancel search and or insurance against a claim.
Can you provide any top tips for leasehold conveyancing in Winslow from the point of view of speeding up the sale process?
- A significant proportion of the delay in leasehold conveyancing in Winslow can be reduced if you instruct lawyers as soon as you market your property and ask them to collate the leasehold information needed by the purchasers’ lawyers. A minority of Winslow leases require Licence to Assign from the landlord. If this is the case, you should place the estate agents on notice to make sure that the purchasers obtain bank and professional references. The bank reference should make it clear that the buyer is financially capable of paying the yearly service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the actual amount of the service charge so that they can pass this information on to the buyers or their solicitors. You may think that you are aware of the number of years left on your lease but it would be wise to double-check by asking your lawyers. A purchaser's lawyer will be unlikely to recommend their client to to exchange contracts if the lease term is less than 75 years. It is therefore important at an early stage that you identify whether the lease requires a lease extension. If it does, contact your solicitors before you put your home on the market for sale. If you hold a share in a the freehold, you should make sure that you hold the original share document. Organising a re-issued share certificate is often a lengthy process and delays many a Winslow conveyancing deal. If a new share is required, you should approach the company officers or managing agents (where applicable) for this at the earliest opportunity. If you have carried out any alterations to the premises would they have required Landlord’s approval? Have you, for example laid down wooden flooring? Winslow leases often stipulate that internal structural changes or laying down wooden flooring calls for a licence issued by the Landlord consenting to such works. If you dont have the approvals in place do not communicate with the landlord without contacting your lawyer before hand.
I inherited a basement flat in Winslow, conveyancing having been completed 7 years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Similar properties in Winslow with over 90 years remaining are worth £211,000. The average or mid-range amount of ground rent is £45 per annum. The lease finishes on 21st October 2094
With just 68 years remaining on your lease we estimate the price of your lease extension to be between £9,500 and £11,000 plus costs.
The suggested premium range above a general guide to costs for extending a lease, but we are not able to advice on the actual costs in the absence of detailed due diligence. Do not use the figures in tribunal or court proceedings. There are no doubt additional issues that need to be considered and you obviously should be as accurate as possible in your negotiations. Please do not take any other action based on this information before getting professional advice.
We have an offer in principle from Barnsley Building Society who have advised we could borrow up to £400k. When do we need to appoint a practitioner for conveyancing? Winslow is where we are buying.
You can appoint a conveyancer now so that the conveyancer can open the file so they can conduct the ID checks etc. Once you wish them to start work they will seek a deposit usually approximately £200. That should generally be once you have the loan offer from the bank and valuation results, however should you want to expedite matters you can start sooner albeit risking some money.